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2161  Economy / Speculation / Re: Vicurex freezing withdrawals. on: March 23, 2014, 06:11:33 PM
Goxing is now a contagion... Which one will be next?
2162  Economy / Speculation / Re: Poll: When will the 200,000 BTC from Gox hit the exchanges and plummet prices? on: March 23, 2014, 11:26:24 AM
OP, several of your poll choices are odd, if not trolling. And how can a forum dweller know when?
Only the people closely involved with MtGox can make an educated guess.

What I can say is that lawyers probably won't cost more than 1 - 2 M$ / year, so only a small fraction of known MtGox funds
will be spent on lawyers. I know because I was involved in a patent lawsuit in the USA and 1 - 2 M$ / year for a mid-range law firm
(actually upper-range, based in Washington DC) is the norm, in Japan prices are probably in the same ballpark.

From the poll choices is see that people hope that the situation will be resolved soon, but if it's up to Karpeles, it just won't.
He repeatedly lied to his customers, and the only hope is that the authorities will force him to do the right things.

2163  Economy / Speculation / Re: Capitulation = Blood in the Streets! ORLY? on: March 23, 2014, 10:46:28 AM
The July 2013 capitulation was a mild one, and the main reason for that was the fiat withdrawal issue at MtGox,
which at that point was still the dominant exchange. There is no guarantee that this one will be mild too.
Currently the market is more fragmented and it is comparatively less liquid in bitcoins. That's why market moves
take much longer than in 2013, wasting everybody's time. But speculator fiat is slowly moving out,
while the ask side will become beefier. This doesn't exclude a fake breakout, like in late May 2013.
2164  Economy / Speculation / Re: Is Overstock.com slowly draining the price? on: March 23, 2014, 10:38:12 AM
Those spending bitcoins (large sums) are mostly long-term holders. They will not buy back bitcoins now, but will wait for the real bottom.
This is bearish, as I already said in January. But once the price will drop further, overstock sales paid with bitcoins will slow down.
2165  Economy / Speculation / Re: Memespeculation on: March 21, 2014, 07:51:07 PM
2166  Economy / Speculation / Re: All these people claiming 1 BTC = 1 million+ on: March 21, 2014, 01:26:59 PM
Satoshi would be worth $1,000,000,000,000 (one trillion dollars).  It won't happen.

Bitcoin more than 1500 is too insane to think of. Maybe, just maybe, for a brief period of time there could be gigantic bubble to 2000-3000. A very big maybe.

For the peak of the next bubble, 3000$ is within reach, but only if the current bubble won't deflate catastrophically (to below 100$).
From 63$ to 1163$ (Bitstamp prices), it was about 18x in about 5 months. So with a bottom of about 150$ - 200$, 3000$ for the next ATH
is possible IMO. But it would require an increase in demand similar to the one from China, and I don't see yet where that will come from.
2167  Other / Politics & Society / Re: Crimea on: March 19, 2014, 04:13:50 PM
"People's will" isn't expressed during an armed invasion at a referendum without supervision and with ballots already filled up.

Three errors in once sentence. Speechless! Highlighted them for you. Now go and do some research, please.

Supervised by the Russian Army?  Tongue
Damn Soviets! Invite a bunch of fellows to play as observers and second the bullshit doesn't count.
Any referendum would need a campaign, a free campaign from both sides, public discussion, time for put the observers and prepare the operation. A referendum within 2 weeks with the Russian army around is a plain load of bullshit. Just a Soviet tactic to make it look like "the people's will".

It's not exactly the Russian Army, but Spetsnaz. Quoting from Jane's:

Russian President Vladimir Putin has consistently denied that what the Ukrainian media widely refers to as the 'little green men' currently controlling key facilities in Crimea are Russian troops, maintaining a pretence that they are instead 'local self-defence groups'.

Further to the CPC report, images passed to IHS Jane's by another source close to the OSCE clearly show many examples of equipment specific to the Russian military - and in some cases Russian special forces (Spetsnaz) - being used by the 'little green men' in Crimea. Among these are: Spetsnaz-style muzzle brakes on Russian AK-100 series assault rifles; VSS (Vintorez) suppressed 9 mm sniper rifles issued primarily to Spetsnaz units for undercover or clandestine operations; Russian RPG-26 anti-tank rocket launchers; Russian NVD 1P93 and USP-1 weapon sights; Russian 6B43 bulletproof vests, 6Sh117 tactical vests and ShBM helmets; and Russian R-168-0,5UME tactical radios.
2168  Other / Politics & Society / Re: Crimea on: March 19, 2014, 01:33:56 PM
Quoting from Wikipedia:

The Budapest Memorandum on Security Assurances is a political agreement signed in Budapest, Hungary on 5 December 1994, providing security assurances by its signatories relating to Ukraine's accession to the Treaty on the Non-Proliferation of Nuclear Weapons. The Memorandum was originally signed by three nuclear-powers, the Russian Federation, the United States of America, and the United Kingdom. China and France gave somewhat weaker individual assurances in separate documents.
The memorandum included security assurances against threats or use of force against the territorial integrity or political independence of Ukraine as well as those of Belarus and Kazakhstan. As a result Ukraine gave up the world's third largest nuclear weapons stockpile between 1994 and 1996.

Between March 1994 and June 1996, about 2,000 nuclear munitions of strategic weapon systems were removed from Ukraine to Russia for disassembly. In all, considering tactical weapons, about 5,000 nuclear munitions were moved to Russia in almost 100 trains. On June 2, 1996 Ukraine officially lost its nuclear status.

According to the memorandum, Russia, the U.S., and the UK confirmed, in recognition of Ukraine becoming party to the Treaty on the Non-Proliferation of Nuclear Weapons and in effect abandoning its nuclear arsenal to Russia, that they would:
Respect Ukrainian independence and sovereignty within its existing borders.
Refrain from the threat or use of force against Ukraine.
Refrain from using economic pressure on Ukraine in order to influence its politics.
Seek United Nations Security Council action if nuclear weapons are used against Ukraine.
Refrain from the use of nuclear arms against Ukraine.
Consult with one another if questions arise regarding these commitments.

Following the 2014 Crimean crisis, the U.S. and U.K. both separately stated that Russian involvement is in breach of its obligations to Ukraine under the Budapest Memorandum, and in clear violation of Ukrainian sovereignty and territorial integrity.
2169  Other / Politics & Society / Re: Russia Invades Ukraine. Whats next? on: March 18, 2014, 05:37:45 PM
A second wave of Russian military reinforcements has been heading towards Ukraine's eastern border, prior to the formal annexation of the region by Russia on 18 March.

Train loads of Russian tanks, heavy artillery, rocket launchers and armoured troop carriers have been revealed in news media reports and social media posts heading westwards from central Russia and Siberia, while airborne exercises have been conducted in the region.

Two trains were filmed in Saratov on 14 March carrying more than 20 T-90 main battle tanks (MBTs) and several 2S3 152mm self-propelled artillery systems (SPAs). Images also emerged of a station in Omsk, Siberia, showing trains loaded with heavy artillery and rocket launchers.
2170  Economy / Economics / Re: Residual effect from MtGox on: March 18, 2014, 03:05:45 PM
this would actually increase volatility.  With less liquidity in the market, bid/ask spreads will widen and we will see sharper price moves.

That's correct, volatility would increase with less liquidity.
But it's not clear if the 850k coins are 'missing'. We don't know yet who controls them, and they haven't been destroyed (keys lost forever).
Some coins could still be in posession of MtGox (by some counts 332k), some could be controlled (and currently sold) by hackers.
2171  Economy / Economics / Re: "I don't want to make early adopters rich" on: March 18, 2014, 02:44:14 PM
To add to my previous post, there is no lock-in with Bitcoin. If you buy today, you can sell tomorrow. The early buyers did not buy a lottery ticket that won. They accumulated assets that they could have sold any day 24/7 for the going price, so the decision was not a one-off type the least.

Today, I made a decision to not buy bitcoin with all my non-bitcoin assets (significant). This makes me an early anti-adopter, as well as all my peers who could have bought today but did not Smiley

(In most cases, I can't understand people who have a portfolio but disregard Bitcoin and not invest even 1% into it. That would be a maximum 1% loss and a potential 10-bagger in 3-5 years, something that should appeal to rational people.)

Such hypocrisy... For the noobs who don't know, rpietila IS an early adopter.
His claim that because he chose not to buy today, somehow makes him an 'early anti-adopter' is bullshit.
He knows that in today's bear market there is little profit to make, but risks are high, so he (and his buddies) simply don't buy today.
2172  Economy / Service Discussion / Re: MTGOX 200K to 50 BTC sum in 2k Address on: March 17, 2014, 03:16:58 PM
IMO preparing to sell on other exchanges. Limited withdraws may be allowed after the bottom of the bear market,
in the meantime Gox will be able to buy back the missing coins, a couple of months from now, at about 1 / 3 of current price.
2173  Economy / Economics / Re: Ukraine good or bad for BTC? on: March 16, 2014, 03:32:26 PM
Interesting article on CNN: Obama screams loudly, carries no stick.  Grin
http://edition.cnn.com/2014/03/15/opinion/gingrich-graham-ukraine-obama/index.html?hpt=hp_t5
2174  Economy / Speculation / Re: Analysis never ends on: March 12, 2014, 10:13:02 AM
IMO the inverted cup and handle scenario can only happen if Chinese exchanges would be shut down by their government.
In such a case, most coins from China would be cashed out on Western exchanges, and the result would be a death spiral
similar to the one seen on MtGox before shutting down. If Chinese exchanges will keep operating, this bear market is going
to take a long time to fully deflate. Looking at Huobi, the bottom of the first sub-wave after wave B is significantly higher than
the bottom of corrective wave A, so Huobi is for now less bearish than Bitstamp, maybe there's still some demand in China.
2175  Economy / Service Discussion / Re: [GOX] Crime Scene Investigation, Case #MG744 on: March 11, 2014, 12:50:47 AM
There's a rumor that the remaining Gox coins are being anonymized, possibly using CoinJoin. Anyone can confirm this?
2176  Economy / Speculation / Re: Arepo's Weekly Newsletter Discussion Thread on: March 10, 2014, 07:05:33 PM
To me it seems that the 'factor of 3' is not correct. So far, the bear market (not just a correction) has been slower than that.
From 25th April to 3rd May 2013, there were 9 days to drop from the top of wave B. Now from the 6th January to the
25th February, the same drop from the top of wave B took 49 days. So it's more like 'factor of 5'. In April 2013 the corrective wave A
has been harsh, with lots of volume, and that's why it moved fast. The pace slowed in May, so this factor of 5 may need adjusting.
But it's too early to tell if the current market has completed one upward sub-sub-wave and a small correction and has begun the
second upward sub-sub-wave, that could reach 750$ if seller pressure won't be high.
2177  Economy / Service Discussion / Re: [GOX] Crime Scene Investigation, Case #MG744 on: March 10, 2014, 09:16:33 AM
...
MtGox's exchange always worked like this. There didn't have to be a RUR buyer, MtGox's bank would have done the conversion and allowed people with USD to buy the bitcoins, and seller be paid in RUR.

Are you saying that the transaction was in USD, but because after the transaction completed, the seller converted USD to RUR,
the transaction appeared in the RUR market? I find more likely that the buyer converted USD to RUR, knowing that on the RUR market
he would be able to buy with little slippage and cash out via bitcoins in January. As for the cashing out via RUR and JPY, these may have
taken some time to complete. AFAIK the JPY withdrawals worked until these big transactions happened and Gox became empty for good.
Anyway, I think that a Japanese prosecutor investigating MtGox should find out who withdrew RUR and JPY from these transactions.
2178  Economy / Service Discussion / Re: [GOX] Crime Scene Investigation, Case #MG744 on: March 10, 2014, 12:53:08 AM
OK. I find something else fishy with the ruble chart. IMO it would have been impossible to get such high volume with little slippage.
To me, the green candle means that it was a huge (for the ruble market) ask wall, and it was bought into. Is this correct?
If so, who suddenly had so many rubles required for the transaction? Maybe the seller and buyer were acting together.
The buyer still had some time to withdraw bitcoins before the shit hit the fan.
2179  Economy / Service Discussion / Re: [GOX] Crime Scene Investigation, Case #MG744 on: March 10, 2014, 12:18:34 AM

After examining gox prices for other than usd pairs, I think you are completely wrong. On other pairs market at gox behaved properly, except for already discussed btcusd and newly examined pairs: bitcoin/rubble and bitcoin/yen. Have a look. We more or less indentified new (fiat-related) dots - this is when gox was being drained out of fiat).


LOL, how can I be completely wrong if I admitted believing there was some insider trading / withdrawal. You are taking this too personal...
The ruble chart is new info, looks suspicious indeed. But how could it be? Such high volume with little slippage?
2180  Economy / Service Discussion / Re: [GOX] Crime Scene Investigation, Case #MG744 on: March 09, 2014, 10:40:55 PM
This doesn't really prove there was insider trading / withdrawals (although I tend to believe it was some).
Could have been just experienced traders who recognized a wave B and sold to bag holders.
Not on MtGox, where they couldn't have cashed out, but on other exchanges.
I posted about the top of wave B in January and of course I was laughed at by the uber-bulls.
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